In a business market where
speed is the new currency, the savviest companies look for innovative ways
to create fluid workflows throughout all operations. Given the savings of time
and money, there’s simply no excuse not to make the transition from paper to
Though you may not realize
it, your supply chain is one of the most efficient places to begin fine-tuning
your operations through digital solutions. This is especially true in
procurement, where the ability to obtain quality products and services quickly
and at the right price can mean the difference between building strong, loyal
ties with customers and losing them to more tech-savvy competitors.
By employing DocuSign’s
innovative digital solutions, procurement departments in any industry can gain
the following valuable benefits.
To carry out efficient
procurement operations, companies must be highly organized and coordinate with multiple
vendors and suppliers in a timely manner. Monitoring and synchronizing the work
of multiple entities can be a difficult task to undertake without the right
tools, and a procurement department that doesn’t stay organized will have a
difficult time meeting purchasing compliance standards.
cloud-based digital transaction management solutions, customers can use the
platform to execute, manage, and store contracts, agreements, and other
transactions. Because all dealings are conducted digitally, procurement
departments can use audit logs to store data such as the date and time of
signature, and confirm authentication methods. Additionally, DocuSign allows
procurement managers to track the progress of documents, providing them with
information about who has and has not given signatures on contracts between
The improved organization
provided by DocuSign solutions also makes it easy to prevent unnecessary delays
from the destruction or misplacement of a physical document copy.
Some statistics indicate
that US companies spend a collective $120 billion a year on printed documents,
and that large organizations misplace a document once every 12 seconds. In
procurement, the price of doing business on paper can be significantly higher,
with additional costs generated by the need to mail or overnight contracts and
purchase orders in order to keep
transactions moving. Additionally, paper costs your employees’ time, as they must
use billable hours assembling and packaging documents before sending important
contracts and agreements.
procurement departments can reduce the amount of money spent on paper and its
associated waste, while also diminishing the percentage of a workday that
employees spend shuffling paper. Time that employees don’t spend printing,
looking for, filing, or creating paper documents can save you thousands of
hours in wages each year.
Operational Flexibility and Productivity
The key to effective
procurement is speed. At the same time, procurement often requires the
participation of multiple people with conflicting schedules, which can slow
collaboration and result in delays of days or weeks. In contrast, the process
could be moved forward in hours or even minutes through the use of digital
Using DocuSign on mobile
platforms means that all parties to a contract or other procurement process can
be involved anytime, anywhere. DocuSign’s mobile services enhance the agility
of your procurement department’s operations, improving the speed with which
you’re able to onboard new vendors and approve purchase requests.
departments use paper to secure signatures on sensitive documents, they’re
risking a security breach. Apart from the possibility of paper documents
getting lost in transit, storing paper contracts that contain sensitive
information increases the possibility of theft or even destruction by accidents
like fire or flood.
who use DocuSign are able to rely on a system that imposes strict methods for
identity authentication for document clearance, including voice recognition,
personal passcode questions, SMS confirmation, and advanced PKI protocols. The
content of all contracts stays private, even from DocuSign, and is encrypted to
meet the highest applicable security standards. In addition, tamper-proof
technologies and easily readable audit trails allow documents managed through
DocuSign to be legally binding and court-admissible.
can feel secure knowing that pricing details, business terms, intellectual
property, and other sensitive information is protected.
Better Company Image
The companies that make the
choice to integrate advanced technological solutions into their business
operations set the standard for the rest of their industry. Digital transaction
management is the way of the future because it improves contract execution
times, reduces costs, and even refines your image as a company that values sustainability
and doesn’t waste paper. By relying on DocuSign solutions for procurement, you
position your company as trustworthy, competent, and capable, rather than
outdated and behind the times—after all, cloud-based digital transaction
management is becoming the standard, rather than the exception.
Quick to implement and easy
to use, DocuSign’s digital transaction management solutions integrate
seamlessly with popular procurement and purchasing platforms like Ariba,
Novatus, Coupa, and others. Whatever your procurement needs, you can look
forward to a smoother, more efficient way of running your business.